aviation: Bankruptcy proceedings opened against Ukraine International Airlines

, aviation: Bankruptcy proceedings opened against Ukraine International Airlines


Bankruptcy proceedings were opened against the airline Ukraine International Airlines on November 22, 2023. This was preceded by an application from a state bank that was filed against the company.

It recently became known that Ukreximbank filed a bankruptcy petition against Ukraine International at the Kyiv Commercial Court. In this request from the state financial institution also that the court can declare that the airline is insolvent. A creditor application to auction operating resources had already been received.

On November 22, 2023, the court heard the bankruptcy petition filed against UIA and decided to open bankruptcy proceedings. At the same time, Tatyana Nosenko was appointed trustee. They must first get an overview.

However, it is considered extremely unlikely that Ukraine International Airlines can continue to operate. Due to the war, the usual scheduled services cannot be carried out for security reasons. In contrast to its competitor Skyup, UIA has not managed to establish itself in the ACMI and charter business outside of Ukraine.

The war initiated by Russia significantly accelerated the decline of Ukraine International Airlines. The carrier, which is privately owned, was hit hard by the corona pandemic and was already financially struggling before it. The government planned to set up a state-owned airline, but the project was postponed due to the war.

The post Bankruptcy proceedings opened against Ukraine International Airlines appeared first on Aviation.Direct.

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Author: Manuella LISET